Swissquote is a leading online broker with multiple regulations, a large range of trading instruments, competitive spreads and zero commissions. They offer powerful and user-friendly trading platforms, flexible account types, advanced trading tools and educational materials.
Swissquote Review, Pros & Cons
- Multiple regulation
- Large range of trading instruments
- Commission free trading
- Competitive spreads
- Proprietary trading platform
- Exclusive in-depth market research
- Daily & weekly market analysis from experts
- No US clients
- No fixed spread accounts
- Minimum $1,000 deposit
In this detailed Swissquote review, our online broker research team have covered some of the most important aspects for you to consider when choosing the best broker for your online trading needs.
Founded in 1996, Swissquote Group Holding Ltd is a Swiss banking group that specialises in the provision of online financial and trading services. Swissquote Group Holding Ltd (SQN) has been listed on the SIX Swiss Exchange since May 2000 and has since grown into one of the leading global online brokers. They are constantly striving to deliver the latest innovative technologies to offer superior trading conditions to clients.
Swissquote are headquartered in Gland, Switzerland with offices in London, Zürich, Bern, Dubai, Malta and Hong Kong. The Group employs over 600+ members of staff and serves over 340,000+ clients worldwide. They offer one of the largest ranges of tradeable instruments across multiple asset classes including Forex, Commodities, Cryptocurrency, Stocks, Shares, Indices, Metals, Energies, Options, Bonds, ETFs & CFDs.
Swissquote provides traders with a range of free to use, user friendly and award-winning trading platforms, complete with premium trading tools and plugins. They offer daily news reports and expert market analysis along with educational materials to increase your trading knowledge and multilingual client support.
Trading conditions are very competitive with transparent pricing and execution speeds. All trading costs are included in the spread with no commissions and no hidden costs. Clients can benefit from competitive spreads, low margin rates and flexible transaction sizes. Traders get direct access to deep liquidity pools with anonymous access to an aggregated pool of 16 major liquidity providers.
The Swissquote Group and its related companies are structured to support their global operations with efficient regulatory oversight. Each Swissquote entity is regulated by the relevant regulatory authority within the country it resides in. This regulation can give clients peace of mind they are trading with a reputable online broker.
SwissQuote Bank Ltd is located in Switzerland, regulated by the Swiss Federal Financial Market Supervisory Authority (FINMA) and a member of the Swiss Federal Banking Commission (SFBC).
Swissquote Ltd is the European subsidiary of Swissquote Bank. Swissquote Ltd is authorised and regulated by the Financial Conduct Authority (FCA) in the United Kingdom. FCA regulation ensures that they must abide by highly ethical, secure and transparent standards.
Swissquote MEA Ltd. is a subsidiary of Swissquote Bank SA that is based in Dubai, United Arab Emirates. They hold a category 4 licence from the Dubai Financial Services Authority (DFSA) and have their headquarters located at the Dubai International Financial Center (DIFC).
Swissquote Asia Ltd is licensed with a type 3 licence (Leverage Foreign Exchange Trading) under the supervision of the Securities & Futures Commission (SFC) in Hong Kong.
Swissquote Financial Services (Malta) Ltd is regulated under the supervision of the Malta Financial Services Authority (MFSA) with a category 4 license. They offer services from Malta to clients all over the world.
Swissquote trading services are not available to some countries including Algeria, Belgium, Canada, China, France, Hong-Kong, Iran, Iraq, Japan, North Korea, Nigeria, Saudi Arabia, Singapore, Syria, Turkey, USA, Zimbabwe. Some Swissquote broker features and products mentioned within this Swissquote review may not be available to traders from specific countries due to legal restrictions.
Swissquote have 3 award-winning, powerful and user-friendly trading platforms to choose from. There is the popular MetaTrader 4 (MT4) & MetaTrader 5 (MT5) platforms as well as the in house developed Advanced Trader platform. Platforms are available for desktop, web and mobile. They come with complimentary analysis tools and plugins. There is also a FIX API trading solution for institutions, corporations and sophisticated traders who need a more specific and bespoke trading environment.
Advanced Trader is Swissquote’s award-winning proprietary trading platform which includes a set of powerful built in trading tools and an intuitive user-friendly interface. It is designed to meet clients ever growing demands in a fully customisable environment for convenient and efficient trading.
You can personalise the interface according to your preferences with the instruments and tools that you need. It includes features for performing trading operations faster. There are chart analysis tools including 40+ technical indicators (Moving Average, MACD, Bollinger Bands, Stochastic, RSI, Heikin-Ashi, etc) and an integrated real-time news feed from Bloomberg & Swissquote.
Automatic Pattern Detection
The automatic pattern detection tool can save you time from having to analyse the charts by analysing them for you automatically. It will detect and highlight 17 of the most commonly used chart patterns along with a colour coded pattern strength indicator. This tool can present you with potential trading opportunities on multiple currency pairs and timeframes.
Advanced Trader support multiple order types, some of which are not available on other platforms.
Order Cancels Other (OCO)
This order type combines a stop order and a limit order. If one of the order types is executed then the other order type is automatically cancelled.
This is a two-step order in which the second step will only be executed if the conditions of the first have been completed.
If done / OCO
This order type is a variation of the if done that will place an Order Cancels Other (OCO) following execution of the order in the “if done” section.
You can download the Advanced Trader desktop version and use the mobile or web versions of the platform if you need to trade whilst on the move. The web version allows you to trade from directly within your web browser without needing to download any software. The mobile version is available for all iOS and Android devices from the relevant app stores.
MetaTrader 4 (MT4)
MT4 is one of the most popular trading platforms on the market with an abundance of trading tools, plugins, one-click trading, expert advisors (EAs) for automated trading and many other features.
MT4 was developed by Russian company MetaQuotes and is used around the world by traders of all experience levels. MT4 is known for its quick learning curve and ease of use whilst having enough advanced functionality to satisfy the more experienced traders.
MT4 has a wealth of built in technical indicators which can be applied to multiple chart types and 9 timeframes. These indicators can be used to spot trends, ranges and to analyse the market for potential trade opportunities.
In addition to the 30+ built in indicators, users have access to thousands of free and paid custom indicators and EAs from the MQL market place which can be accessed from within the platform.
MT4 has 24 analytical objects which can also be used for chart analysis including lines (support, resistance, etc), channels, Gann and Fibonacci tools, shapes and arrows.
MT4 support automated trading with EAs and copy trading. There is the MetaEditor where users can code their own custom indicators or EAs in the MQL programming language. The strategy tester can be used to back test EAs over historical data downloaded directly from the broker or an external provider.
You can view the profiles of hundreds of traders and choose to copy their trades automatically. It should be strongly noted that historical performance is by no means a guarantee of future performance.
Trading & Orders
The Swissquote MT4 platform supports 2 different types of market orders, instant or market execution.
The instant order is executed or rejected at the requested bid or ask price for the full amount of the trade. For Stock Indices, the order will be executed at market best conditions.
The market execution order is executed at the best available price or rejected if no price is available; the order is filled for the full amount but can be filled better or worse than the requested price.
MT4 is available on desktop (Windows / Mac), web and mobile (iPhone / iPad / Android / Tablet). The web platform runs directly in most popular web browsers without the need for installing any additional software whilst the mobile application allows you to trade from the palm of your hands from anywhere in the world with an internet connection.
MetaTrader 5 (MT5)
MT5 is the next generation of the MetaTrader software. Following on from MT4, it maintains most of the core functionality with some added features for traders who are looking for the most comprehensive trading technology available. The extra tools and trading instruments allow for greater flexibility.
MT5 has a good selection of technical indicators which can be used to detect trends and help forecast price direction. Users can choose from the 80+ built in indicators or create their own in the MetaEditor. The MQL marketplace has thousands of additional custom indicators that can be added to the platform.
MT5 also has over 40+ chart analytical objects including Gann, Fibonacci and Elliott tools, geometric shapes, a variety of channels, levels for support/resistance and more.
MT5 charts are fully customisable with other 21 timeframes to choose from compared to 9 timeframes in MT4.
MT5 has support for fully automated trading by using expert advisors (EAs) or copy trading from the many signal providers there are to choose from within the MQL community. The built-in editor can be used to develop and back-test your own strategies in the multi-currency strategy tester with tick data. The marketplace has a large selection of EAs, some of which are freely available and some which require a fee.
MT5 is available on desktop (Windows / Mac), web and mobile (iPhone / iPad / Android / Tablet). The web platform runs in web browsers without installing any software whilst the mobile application allows you to trade from your mobile devices whilst on the go.
A Financial Information eXchange (FIX) protocol is the international standard for trading electronically and was developed to enable greater connectivity among market participants.
The FIX API offers a customised and flexible solution for tapping directly into Swissquote’s liquidity from your own platform. It is based on the FIX 4.4 protocol and can give increased control over your trading with optimal connectivity and performance.
You can access real time and historical price quotes, along with having the ability to place market or limit orders over secure communication channels.
FIX API’s are commonly used by institutions, corporations and sophisticated traders who need high-speed connectivity and ultra-low latency execution.
To qualify for Swissquote’s FIX API solution, clients must have a minimum deposit on their account of at least $50,000.
Swissquote Trading Tools
Swissquote have trading tools built directly within the trading platforms and offer the award-winning automated chart analysis software, Autochartist. They also have a portfolio service called Robo-Advisory.
AutoChartist is an automated technical analysis plugin for MT4 that is available free of charge to Swissquote clients. It can enhance your trading by continuously and automatically scanning the markets for trading opportunities.
It has the capabilities of recognising emerging and completed trade setups and will send you alerts when it finds them. Autochartist can identify regular chart patterns, Fibonacci patterns and key levels. Trading setups are given a quality score based on historical performance. Historical performance is by no means a guarantee for future performance.
The risk calculator included can assist you with calculating your real capital exposure and set risk-adjusted position sizes. There is also an event impact analysis which help to evaluate the possible impact of economic events on specific instruments.
Other Autochartist features include customised filters, webinars, market reports, performance statistics, volatility analysis, price range forecast and a trading community tab. There is a step by step tutorial video that shows you how to find and set trades using Autochartist.
Swissquote offer an alternative trading solution called Robo-Advisory which is based on an advanced algorithm that will analyse thousands of instruments to develop a personalised portfolio for you and monitor it 24/7, continuously optimising it.
It is fully transparent and gives you full control on your investment. You can determine the risk, select your favourite instruments and modify the strategies at any time. Clients can open a Robo-Advisory demo account test it with virtual funds.
Swissquote launched its Robo-Advisor in 2010 when it became the first electronic wealth manager in Switzerland. It is based on the same algorithm they used for managing the Swissquote Quant Fund which received the Lipper Fund Award in 2016 for having achieved the best performance over 3 years.
Swissquote offers eductional material via a selection of trading videos, eBooks and webinars that aim to teach you various trading strategies and best practices in order to help you to improve your trading knowledge and reach your full potential.
The Swissquote learning center has a section dedicated to trading tutorials that cover a variety of topics with a series of well explained and visually appealing videos. These videos are available in English and cover everything from trading tools, trading platforms, market analysis, risk management and more. There are also some PDF user guides available within this section.
Swissquote offer frequent live and on demand webinars run by experts. The webinars enable you to increase your trading knowledge from the comfort of your chosen location. They are available in English, French, German, Spanish & Arabic.
Swissquote have a team of expert analysts and researcher who conduct live daily and weekly market reports. These exclusive market insights can be used as part of an overall technical and fundamental analysis.
Swissquote publish their own magazine which contains interviews and in-depth articles on key market players from around the globe, allowing the reader to draw upon on a range of innovative ideas for their own investment strategy.
This is a social networking platform where traders can share market news and analysis. Pulse is displayed as a feed and supports mobile push notifications.
SwissQuote have a very large selection of trading instruments, including an impressive 8,500+ individual stocks based on shares of AU, US, CA, UK and EU companies. There is a good selection of indices based on baskets of different blue-chip stocks. They have over 800+ ETFs based on exchange-traded funds containing various tradable assets.
In addition to this, they offer a generous selection of 80+ major, minor and exotic forex currency pairs. They have 10 of the most popular cryptocurrency pairs including Bitcoin, Bitcoin Cash, Ethereum, Litecoin, Ripple.
There are government bonds based on US, UK and German government securities. A vast range of commodity CFDs including metals and energies are also available to trade.
Swissquote Accounts & Fees
Swissquote offer a variety of account types suitable for differing needs of traders. There are the Standard, Premium, Prime & Professional accounts. The main differences between the accounts are the spreads offered, minimum deposit required and minimum lot size. The tighter the spreads, the larger the initial deposit required.
Demo accounts are available to test the different trading platforms and conditions before opening a real account. Islamic swap-free accounts that comply with Sharia law are also available upon request.
The standard account has spreads starting from 1.7 pips and charges zero commissions. The minimum deposit required on this account type is $1,000 and minimum position size is 0.01 lots.
The premium account has spreads starting from 1.4 pips and charges zero commissions. The minimum deposit required on this account type is $10,000 and minimum position size is 0.1 lots.
The prime account has spreads starting from 1.1 pips and charges zero commissions. The minimum deposit required on this account type is $50,000 and minimum position size is 1 lot.
The professional account has customised spreads and bespoke pricing depending on your trading activity. The minimum balance depends on the volume that you plan to trade. You can contact Swissquote for customised pricing according to your requirements.
As broker fees can vary and change, there may be additional fees that are not listed in this Swissquote review. It is imperative to ensure that you check and understand all of the latest information before you open a Swissquote broker account for online trading.
Swissquote provide 24/5 customer support via online chat, telephone and email. They have a multi lingual support team with offices in London, Gland, Zürich, Bern, Dubai, Malta and Hong Kong. There is a dedicated trading desk that is open 24 hours on trading days.
Swissquote Deposit & Withdrawal
Swissquote offer bank wire and credit/debit cards for depositing and withdrawing funds to and from your trading account. Some fees may be charged when using certain payment methods. Bank transfers may take a few business days to clear.
Swissquote strictly does not accept third-party payments. All funds deposited into your trading account must be under the same name as your Swissquote trading account.
Accounts can be opened in EUR, USD, GBP, CHF. The different currency options are beneficial as currency conversion fees do not apply when using an account in your own currency.
Swissquote Account Opening
You can open a new Swissquote account directly online. It takes a few minutes to complete the application form. Once the process has been completed, you will receive e-mail confirmation. Following on from that you will need to upload proof of identification such as a passport or drivers license and proof of address such as a recent utility bill. Once your documents have been verified you can fund your trading account and commence trading. The customer support team is on hand to help should you need assistance during the account opening process.
Swissquote is a leading online broker that is regulated in multiple jurisdictions and offers a vast number of tradeable instruments to clients across the globe. They are part of the large Swissquote Group Holding Ltd company who have a proven track record of offering financial services since 1996.
Swissquote offer powerful and user-friendly trading platforms, flexible account types, advanced trading tools and educational materials. Spreads are competitive whilst there is zero commission charged. The support team is very prompt, polite and efficient with their responses.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 78% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.